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The Your Life, Your Money Podcast helps you thrive in life, wealth and retirement. The show is designed to navigate the complexities around money, building and securing wealth, and achieving financial independence. Scott Sierens, financial advisor at Sierens Financial Group, will provide thoughts, strategies, and ideas on each episode to help you make smart and sound financial decisions. The goal is to take complex financial subjects and make them simple and easy to understand so you can feel confident to take action, enjoy life, and eliminate financial stress and anxiety.

Scott, along with guests from across various industries, will cover topics such as tax savings strategies, investment and wealth management, IRAs, 401(k)s, retirement planning, income strategies, pensions, estate planning, social security, healthcare, and much more.

Retirement isn't an age or number. It's finding the balance between living life today and feeling financially confident about YOUR tomorrow.

Ask Scott your questions by calling 847-235-6989 or check out our podcast website at https://lifemoneyshow.com for more resources.

  1. All Episodes
  2. Ep 83: 5 Mistakes to Avoid in Your 401k

Ep 83: 5 Mistakes to Avoid in Your 401k

Dec 15, 2022

Saving in your 401(k) can be an easy and painless way to build your retirement savings. But because it’s so easy and painless, it can also be easy to ignore for long periods of time, which often leads to mistakes. In this episode, we’ll cover at least the top 5 mistakes people make in their 401(k)s.

 

Here’s some of what you’ll learn in this episode:

  • Why you should always take advantage of the company match. (3:57)
  • Don’t assume a target date fund provides you a customized solution for your needs. (7:26)
  • Too many people fail to rebalance their portfolio often enough. (12:01)
  • The 401(k) plan doesn’t view you as the client. Your company is their client. (14:53)
  • Why you shouldn’t automatically leave your money in a former employer’s 401(k) account. (19:19)

 

Read more and get additional financial resources here: http://lifemoneyshow.com 

Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ